41: 汇报考试情况

今天终于结束了魔鬼式的暑期班，好累好累，上网到处看看，可就是说不话来，脑子不好使用咯。 今天就说说早上考试的情况。呵呵，你一定问什么时候上学啊？ 就在这个月底27号，所以.......还没想到要做什么，大概除了睡觉就是睡觉了。

考试跟平时的功课差不多，不过要在三个钟头半里完成，所以情况好坏参半。我今次没有将对的答案改为错的，只是算错数了，索性就错到底，因为没有多余的时间来更改。因此我才有足够的时间来完成考试。 我也见到有些学生几乎是交白卷，唉！ 我不求很高的分数，能通过就是啦。

以下是考试模仿题，一看就知道我说的是什么了，谁能在三个小时里完成呢？必有奖赏！

问答题：
1.  Under what conditions, if any, should a company NOT use the equity method for an investment of 30% of the outstanding voting shares of another company? Provide a general rule and provide explicit examples.

2. From a conceptual perspective, assumming that most convertible bonds are converted into common stock rather than redeemed for cash, do convertible bonds meet the definition of liability?

3. What is the definition of an asset?

4. When should revenue be recognized?

5. What are the primary classifications of owner's equity and what are their definitions?

6. What is the effect of a stock dividend on total owner's equity? Explain.

7. What is the effect of a stock split on contributed capital? Explain.

8. Recording the foreign exchange transaction, one uses the exchange rate at the end of period and other uses the exchange rate at the transaction occur during the period. Which exchange rate will FASB choose based on the two processes in GAAP? (我都搞不懂问题问啥，大概意思是说：按照GAAP， FASB该用那种exchange rate吧？）

算题：
1. On May 1, 2001, MPP, Inc. issued 30,000 bonds, each with a face value of $1,000. The bonds are dated March 1, 2001. Interest payments are semi-annual at the face interest rate is 9.5% (annual) with interest payment dates of 3/1 and 9/1. The term of the bonds is 15 years. Each bond in convertible into 16 shares of common stock which has a par value of $10/share.

a. Provide the journal entry to record the issue of the bonds if they were issued when the (annual) market rate of interest what 10.5%.

b1. Assume that the bonds were issued when the (annual) market rate of interest was 8.5% for a total of 32,977,515. If the bonds had been issued on 3/1/2001, their value would have been $32,516,859. Record the first interest payment on 9/1/2001.

b2. Provide any adjusting entry as of 12/31/2001.

b3. Provide the journal entry for the second interest payment on 3/1/2002.

c. Assume that the bonds were issued when the market rate of interest was 8.5%. As of 9/1/2013, after the interest payment, the balance in the premium account is $663,130. Provide the journal entry(ies) that would be necessary if on 12/1/2013, MPP, inc. purchased 40% of the bonds for a total of $12,800,000, including any accrued interest.

d. Assume that the bonds were issued when the market rate of interest was 8.5%. As of 9/1/2013, after the interest payment, the balance in the premium account is $663,130. Suppose that in order to induce bondholders to convert, the company agreed to issue 17 shares of stock for each that was converted and that 30% of the bondholders converted their bonds on 9/1/2013, after the interest payment, when the market price of the stock was $80 per share. Record the conversion assuming the book value method.


2. During 2001, MPP, Inc. purchased the following equity securities:
                  Number of shares                total cost                  fair value/share
AAA           20,000                             $1,080,000                         $67
BBB            15,000                               930,000                              59
CCC            12,000                               972,000                              74

a. provide any necessary adjusting entry as of 12/31/2001 assuming that these securities are classifed as Trading securities

provide any necessary adjusting entry as of 12/31 assuming that these securities are classified as Securities Available for sale.

what would be the difference in comprehensive income in 2001 between treating them as Trading securities and treating them as Securities Available for sale

b. On 10/1/2001, Mpp, inc. purchased some debt securities that have a face value of $30,000 fpr $330,000. The securities bear an (annual) interest rate of 9% and pay interest quarterly, on 3/1, 6/1,9/1, and 12/1. Assuming that these are classified as Trading Securities:

Record the acquisition

Record the receipt of interest on 12/1/2001

Record any necessary adjusting entry(ies) as of 12/31/2001 assuming that the fair value f these securities, including accrued interest, was $324,000 as of 12/31/2001.


他爹的，打字都打得我手都酸了，后面还有两大题呢